Bank owned foreclosured real estate properties are flooding the real estate market in some parts of the United States. While Hilton Head Island is far better off than the national average of foreclosed properties, their are still many foreclosure listings that come across the real estate wire from time to time. Foundation Realty has several relationships with different local and nationwide banks that allow us to list and sell their foreclosed real estate properties for pennies on the dollar. Although there are many risks involved in purchasing a foreclosed or pre-foreclosed real estate home, house, condo, villa, lot or commerical investment, the rewards often outweight the initial risk.
Most lenders require an earnest deposit, typically 1%-5% of the list price, with the inital offer. Most HUD properties are sold without an inspection and with the words "AS IS - WHERE IS" in the listing description, meaning they are not going to do any repairs and they take no responsibilty with any property defects or lawsuits down the line. While the Hilton Head Island, South Carolina real estate market rarely sees foreclosed properties for sale, when they do arrive, they don't last long.
If you would like more information about HUD real estate or foreclosure properties in Hilton Head Island area, please feel free to email me and I will be happy to show you what is currently available.